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Edited version of private advice
Authorisation Number: 1051841862950
Date of advice: 25 May 2021
Ruling
Subject: Clean building managed investment trust
Question
Will Trust A be a clean building managed investment trust within the meaning of section 12-425 of Schedule 1 to the Taxation Administration Act 1953?
Answer
Yes.
This ruling applies for the following periods:
1 July 20XX to 30 June 20XX
The scheme commences on:
1 July 20XX
Relevant facts and circumstances
Trust A has X unit holders who are covered by subsection 275-20(4) of the Income Tax Assessment Act 1997.
Trust A is the registered proprietor of an estate in fee simple in land in Australia. There is an office building on the land.
The trustee of Trust A is a company incorporated in Australia.
Trust A is covered by section 275-15 of the ITAA 1997 and satisfies the licensing requirements in section 275-35 of the ITAA 1997.
Trust A is not registered under section 601EB of the Corporations Act 2001.
All of the investment management activities carried out in relation to Trust A in respect of the land are carried out in Australia.
During the period to which this Private Ruling applies, the building on the Property will maintain at all times at least a 5 Star Green Star rating as certified by the Green Building Council of Australia.
Relevant legislative provisions
Taxation Administration Act 1953 section 12-425 of Schedule 1
Reasons for decision
Trust A satisfies the requirements to qualify as a 'clean building managed investment trust' within the meaning of section 12-425 of Schedule 1 to the TAA 1953.
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